Our DailyMarket Reports

Mid-Day Gold & Silver Market Report – 2/15/2011

2/15/2011 12:02:46 PM By: Ryan Schwimmer

At 12PM (CT), the APMEX precious metal prices were:

Gold - $1,373.20

Silver – $30.73

Platinum – $1,831.90

Palladium – $842.80

COMMENTARY: Precious metals are trading slightly lower since the morning commentary amid a Wall Street slump. Retail earnings came in underwhelming, which is likely what is causing stocks to be down. Another factor in metals prices being in the black could be worries of a flare-up in the euro zone debt crisis. As predicted by many, there are fears that Portugal will need to seek a bailout from the European Union, following Greece and Ireland’s bailouts last year. These, along with the unrest in the Middle East, could be leading traders to seek the wealth protection that gold provides.

Gold spot price is up $7.60. Silver spot price is up 13 cents. Platinum spot price is up $4.30. Palladium spot price is up $8.00.

Disclaimer:
APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.